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Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 11, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Found near-term support at 1.2872, ahead of minor bounce. First resistance at 1.2968 has been tested, though break above 1.3054/85, 23 Dec 10 low / 200 day MA is required to continue recovery. For now, focus remains to the downside, with break through 1.2872 to target 1.2795, 61.8% Fibonacci retracement of 1.1875/1.4280 ascend, ahead of 1.2702.

    Res: 1.2968, 1.2988, 1.3020, 1.3054
    Sup: 1.2910, 1.2872, 1.2828, 1.2795

    [​IMG]


    GBP/USD
    Rally from 1.5474 has briefly traded above 1.5578 previous high, testing 1.56 zone, ahead of pullback. This may signal further gains, while 1.5474 holds, with regain of 1.5659 required to open fresh phase up, to target 1.5692, 61.8% of 1.5910/1.5343 decline next. Loss of 1.5474 would delay for 1.5416/04, 200 day MA / 07 Jan higher low, and possible retest of 1.5366/43 area.

    Res: 1.5578, 1.5601, 1.5626, 1.5644
    Sup: 1.5500, 1.5474, 1.5424, 1.5404

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    USD/JPY
    Extended reversal following an upside rejection at 83.67, breaking through 82.84 support to reach 82.67, just above 38.2% of 80.92/83.67 upleg. Fresh push higher is under way, with clearance of 83.27, yesterday’s high, needed to confirm higher low and re-focus 83.67. Break here to resume rally from 80.92 and open 83.90/84.19 next. Downside, loss of 82.67 would signal a deeper correction and risk 82.30/81.98, 50% / 61.8% retracement levels.

    Res: 83.27, 83.38, 83.67, 83.90
    Sup: 82.67, 82.62, 82.30, 82.20

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    USD/CHF
    Narrow consolidation off 97.06, 06 Jan high, remains supported by 0.9594, with fresh attempt higher extending above 0.9706. Sustained break here is needed to signal an extension of recovery from 0.9301 and focus 0.9771, 61.8% Fibonacci retracement of 1.0064/0.9301 downleg, next. Only loss of 0.9594 would delay and allow for stronger pullback towards 0.9532/15.

    Res: 0.9724, 0.9732, 0.9771, 0.9815
    Sup: 0.9627, 0.9608, 0.9594, 0.9552

    [​IMG]
     
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